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Starting a Business
Business_Stocks
Assignments and Due Dates

General Business

Some Facts about Business (from NFTE)

• There are some 16 million businesses in the U.S.
• 8,000 new businesses are started each week.
• In 1990, 4 million jobs were created by new ventures. Big businesses lost 1.7 million jobs.
• Almost half of all innovations/new products were created by small entrepreneurial companies.
• Almost half of the work force works for small businesses.
• Millions of businesses today are owned by Women, African-Americans and Hispanics.

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Ideas are Not Necessarily Opportunities

A business opportunity is an idea, plus:

• It is attractive to customers
• It will work in your business environment.
• It can be executed in the "window of opportunity" that already exists.
• You have the resources and skills to create the business, or you know someone who does and who could start the business with you.

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Cost and Benefit Analysis

• Before making any investment, compare costs with benefits.

• Don't forget to include the opportunity cost. This is the cost of your "next best investment"

• If the the benefits of making the investment are greater than the cost (including opportunity cost), the invest is probably a good one.

• You can apply cost/benefit analysis to both business and personal decisions.

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Assignments - See the assignment page - What to do and when

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Cool Links

http://vator.tv/n/a49 - Three key elements when starting a business - being an Entrepreneur! (culture, KISS and cost)

Factors of Production - What are the Factors of Production? The foundation of business!

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